XRP, Solana, and USDC could be included among other assets to form the America-first strategic reserve proposed by President-elect Donald Trump’s transition team. This development has come at a time when there are talks of executive orders regarding the increased use of cryptocurrencies and overhauling of rules governing these assets in the US.
Strategic Crypto Reserve Under Consideration
The New York Post report, details that the administration of President Donald Trump is considering establishing a metals and cryptocurrencies bunker. This would be achieved on such American creation cryptos as XRP, Solana, and the dollar-linked USDC stablecoin since it would employ an ‘America, First’ strategy.
Some insiders state that the given initiative may focus on such assets mainly because they belong to the domestic market and can help stimulate financial development within the country. Caldwell also added that executives of Ripple including CEO Brad Garlinghouse and Chief Legal Officer Stuart Alderoty met with Trump at Mar-a-Lago to discuss the idea. In particular, the discussions have raised hopes of better regulatory conditions for cryptocurrencies in the United States.
Pro-Crypto Executive Orders on the Agenda
President Trump is expected to come out with executive orders that are specific to the new regulatory format for digital assets. Experts in the industry expect these orders to be revealed soon after the inauguration of the 45th president of the United States on January 20.
It also suggests that the SEC repeal the Staff Accounting Bulletin (SAB) 121 which has received a lot of backlash due to its restrictive influence on banks that engage in business with cryptocurrency firms. Lifting this regulation could lead to an increase in cooperation between banks and the providers of digital currencies. Frank Chaparro, financial analyst, and an early Bitcoin investor, said, “Banks have effectively been marginalized within the space for years. This shift could reverse that almost overnight.”
Also, secondary legal concerns that require attention in the industry include liquidation of uncertainty around some ongoing legal cases like Ripple Vs SEC. A settlement might open doors for a spot XRP ETF, essentially backing the asset class and potentially creating other opportunities for investors.
Internal Debates Within the Crypto Community
However, there is an increasing internal debate among users of cryptocurrencies the proposed strategic reserve. Some argued on the potential addition of XRP, Solana, and USDC, while others insisted on prioritizing Bitcoin only, since it is the most famous and capitalized crypto.
Skeptics have noted that the emphasis put on the development of altcoins could potentially weaken the efforts aimed at attesting Bitcoin as one of the cornerstone infrastructure elements in the United States’ finance market. However, advocates of the approach argue that it might mark a change of the tide for the development of U.S.-headquartered digital asset companies.
Celebratory Events Ahead of Inauguration
While the crypto industry continues waiting for Trump’s inauguration, there are parties planned in Washington D.C. The AI and Crypto Czar, David Sacks, is hosting an inaugural ball on January 19. It will be attended by guest speakers from the blockchain and cryptocurrency industries of the United States and is aimed at starting the change that many are hoping for regarding digital assets in the USA.
Because the incoming liberal administration seems to be more friendly with the easiest crypto policies, the participants in the mentioned market are positive about receiving a newly defined regulation and thus the said utilization of crypto. The anticipated executive orders together with the “America first” policies, supported by Trump, could make the United States the world leader in the new digital economy.
